Policies and Regulation Archives | Be Korea-savvy

Archive by category Policies and Regulation

Samsung and LG Say Whirlpool’s Call for Safeguard Tariff Could Hurt Consumer Choice

Samsung and LG Say Whirlpool’s Call for Safeguard Tariff Could Hurt Consumer Choice

SEOUL, Oct. 20 (Korea Bizwire) — South Korean consumer electronics producers Samsung and LG have said American refrigerator manufacturer Whirlpool’s growing calls for U.S. trade authorities to impose safeguard tariffs on its rivals could restrict choices for consumers. The two South Korean electronics giants are increasingly having to defend their position in the U.S. refrigerator market [...]

Resumption of Construction for 2 Nuclear Reactors to Affect Gov’t Plan

Resumption of Construction for 2 Nuclear Reactors to Affect Gov’t Plan

SEOUL, Oct. 20 (Korea Bizwire) — South Korea is set to resume work on two nuclear reactors on the southeastern coast after a three-month hiatus, as a state commission gave the green light to complete construction Friday and which is expected to affect the government’s nuclear phase-out plan. The construction of the Shin Kori-5 and [...]

LG Warns of Delay in Factory Construction in U.S. amid Washer Dispute

LG Warns of Delay in Factory Construction in U.S. amid Washer Dispute

SEOUL, Oct. 20 (Korea Bizwire) — LG Electronics Inc. said Friday Washington’s steps to impose trade barriers against South Korean washers could give adverse impact on U.S. consumers, saying such changes may also result in the delay of its on-going factory construction in Tennessee. The statement came as the U.S. International Trade Commission determined earlier [...]

All Vehicles to be Equipped With LDWS by 2021

All Vehicles to be Equipped With LDWS by 2021

SEJONG, Oct. 19 (Korea Bizwire) — The South Korean government is set to make the inclusion of both lane departure warning and advanced emergency braking systems mandatory in all passenger cars from 2021, as part of efforts to curb drowsy driving. Under the new regulations from the Ministry of Land, Infrastructure and Transport released Thursday, all [...]

S. Korean Washers Top U.S. Product Evaluation Reports amid Moves Toward Protectionism

S. Korean Washers Top U.S. Product Evaluation Reports amid Moves Toward Protectionism

SEOUL, Oct. 19 (Korea Bizwire) — South Korean washers topped product reviews by major U.S. consumer evaluators, industry watchers said Thursday, as Washington’s trade commission moves to take protectionist steps. Earlier this month, the U.S. International Trade Commission (ITC) determined that products made by Samsung Electronics Co. and LG Electronics Inc. are exerting an adverse [...]

Imports of E-cigarettes Rose Sharply since Conventional Tobacco Tax Hike in 2015: Data

Imports of E-cigarettes Rose Sharply since Conventional Tobacco Tax Hike in 2015: Data

SEOUL, Oct. 10 (Korea Bizwire) — Imports of electronic cigarettes more than doubled after the government raised taxes on conventional tobacco in 2015 to discourage smoking, government data showed Tuesday. Industry sources attribute the sharp rise to smokers switching to e-cigarettes which are exempted from higher taxes. The government increased taxes on cigarettes by 2,000 [...]

Fair Trade Commission to Take Legal Action Against AirBnB Over Strict Refund Policy

Fair Trade Commission to Take Legal Action Against AirBnB Over Strict Refund Policy

SEJONG, Sept. 30 (Korea Bizwire) – The Korea Fair Trade Commission announced on Thursday it will take legal action against AirBnB after the online accommodations giant ignored its demand to comply with a correction order regarding its strict refund policy for South Korean clients. According to the Fair Trade Commission (FTC), AirBnB has failed to fully [...]

Workplace Accident Insurance to Cover Commute Trips

Workplace Accident Insurance to Cover Commute Trips

SEOUL, Sept. 29 (Korea Bizwire) – Workers who experience accidents during their commute will now be eligible for compensation, as new legislation has been passed at the National Assembly to categorize commuting as a continuation of work. During a plenary session on Thursday, the new legislative amendment of the current Industrial Accident Compensation Insurance Act was [...]

S. Korea, Missouri Sign MOU on SMEs Promotion

S. Korea, Missouri Sign MOU on SMEs Promotion

SEOUL, Sept. 29 (Korea Bizwire) — The South Korean government said Friday it has signed a memorandum of understanding (MOU) with the state of Missouri to enhance cooperation between small and medium-sized enterprises (SMEs). The pact was signed in Seoul between Choi Su-gyu, vice minister of SMEs and Startups, and Missouri Gov. Eric Robert Greitens, [...]

South Korea to Offer US$1 Million Worth of Humanitarian Aid to Quake-Hit Mexico

South Korea to Offer US$1 Million Worth of Humanitarian Aid to Quake-Hit Mexico

SEOUL, Sept. 29 (Korea Bizwire) – South Korean plans to provide US$1 million worth of humanitarian assistance to Mexico recently hit by a massive deadly earthquake, the foreign ministry said Thursday. A 7.1-magnitude quake struck Mexico on Sept. 19, leaving 338 people dead and over 800 others injured. Dozens of buildings collapsed with over 14,000 homes damaged or destroyed, the ministry said. The latest quake [...]